PwC Is a Name You Can Trust … Or So It Claims

Hey all you Trusty McTrustersons! Here’s an excerpt from a post Trusty Tim Ryan published today on LinkedIn explaining something new at PwC called The New Equation: What we know is that trust will be the defining factor in how businesses are able to achieve both profit and purpose – so in the US, we are aligning […]

KPMG Poaches Someone From PwC and Issues a Press Release, Part XIV

Andrew Yates has put together a squad—six men (including Yates) and six women—who will act as his right hand when he takes over as CEO of KPMG Australia on July 1. One of the members of KPMG Australia’s new National Executive Committee is a recent refugee of PwC, according to a press release: External hire, Dorothy […]

Friday Footnotes: A Deloitteful Failure; PwC Hunts For Missing Emails; CPAs Tell Clients GTFO | 6.11.21

Deloitte Sued for Allegedly Failing to Find ‘Irregularities’ in Audits of Singapore Oil Trader [Insurance Journal] A failed oil trader in Singapore that owes creditors more than $3.5 billion is suing Deloitte & Touche LLP, alleging the auditing firm failed to detect “serious irregularities” in its financial statements for more than a decade. KPMG shouts […]

Is It Time For Prometric to Ditch the Mask Mandate?

On May 16, 2021 the CDC announced that fully vaccinated individuals could enthusiastically rip the masks from their faces and go forth out into the world maskless like they did prior to all this mess. Social distancing? Gone. Hiding in your apartment? Forget it. From the CDC website: If you are fully vaccinated, you can […]

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Making Remote Work: June’s Hottest Remote Accounting Jobs

Looking for a truly remote accounting job—one that doesn’t transform into an in-office grind after a few months?  Accountingfly is the answer to your “never commute again/never wear suit pants again” prayer–their core business is placing candidates in 100% permanently remote accounting jobs.  Whether you’re looking for a permanent position or a freelance/temp gig, check […]

Deloitte Is Currently Recruiting Chads With Yee Yee Ass Haircuts

Imagine my surprise when innocently browsing Reddit while on the can the other night and stumbling across the r/justfuckmyshitup x Deloitte crossover I never knew I needed. Some highlights from the comments: Don’t get this haircut and definitely don’t work at Deloitte either. You ever heard of wlb? It’s obviously a large firm with many […]

Promotion Watch ’21: PwC Admits 210 New Partners and Principals

It’s promotion season at PwC, and the newest batch of chosen ones will officially become partners or principals on July 1 after they kiss Tim Ryan’s ring. Of the 210 individuals promoted, 116 will be partners and 94 will be principals. This year’s class of 210 new partners and principals is the smallest since 2015, […]

Promotion Watch ’21: Baker Tilly Admits 24 New Partners

The Chicago-based public accounting firm with a guitar pick for a logo handed out 24 new memberships to the partner club on June 1, one more than last year. The 15 men and nine women in the Baker Tilly new partner class of 2021 are: Paul Bishop, CPA, Tax – Manufacturing and Distribution, Madison, WI […]

Accountants Behaving Badly: Fraud Isn’t All It’s Cracked Up to Be

I never thought I’d ever write the words “egg accountant busted in embezzlement scheme” but here we are. The egg accountant, Jonathan Weston, was indicted by a federal grand jury in Pittsburgh June 3 on charges of fraud conspiracy, money laundering conspiracy, and tax fraud. According to the U.S. Attorney Office for the Western District of […]

KPMG Poaches Someone From EY and Issues a Press Release, Part VI

Poaching season never rests, especially in the U.K. In today’s edition of “Big 4-on-Big 4 Poaching From Around the World,” Ian Wood can get his old KPMG coffee mug out of storage because he’s back at where it all began, this time as part of the firm’s Energy Lead Advisory team. According to a press […]

Promotion Watch ’21: Deloitte Canada Adds 29 New Partners

While these 29 individuals at Deloitte Canada were promoted to partner at the beginning of the year, it’s not too late to recognize this class of 16 men and 13 women for their unyielding love of all things D-town. Among service lines, consulting leads the way with 15 new partners, followed by tax and legal […]

There’s a Coup Going Down as We Speak at the PCAOB

Here’s a nice little Friday news dump for y’all to hand-wring over as we head into the weekend: Securities and Exchange Commission Chairman Gary Gensler has fired the U.S.’s top accounting regulator, a move that is certain to please investor advocates and progressives who had demanded an overhaul of the watchdog. The SEC announced the […]

Friday Footnotes: PwC Thinks You Miss Your Office Friends; KPMG Clients Kept Tax Dodging; Deloitte and Diversity | 6.4.21

Wealthy KPMG clients continued to dodge taxes for years after CRA detected offshore ‘sham’ [CBC] The KPMG scheme involved setting up shell companies for Canadian multimillionaires and billionaires in the Isle of Man, a British crown dependency in the Irish Sea. A client would purport to give away their wealth to one of the shell […]

EY Just Bought Some Really Expensive Pancakes

In late 2019, we learned that EY thinks women are a bunch of dumb sluts who need to be told to cover up the goods in a professional setting, so much so that a day-and-a-half long “leadership seminar” held at the firm’s Hoboken office in 2018 focused intently on this bit (er, their bits?). HuffPo […]

KPMG Managing Director Alan White Will Be Laid to Rest on June 3

A memorial service will be held in West Virginia on Thursday morning for KPMG Managing Director James Alan White who passed away in Dallas on Oct. 22, 2020. Internment will follow the memorial service, according to his obituary. White, who would have turned 56 on June 16, was born in Charleston, WV, and was a […]

Here’s Why the Millennials and Zoomers In Your Office Stink

If you’ve chosen to awaken from your work-from-home slumber and returned to your firm or accounting department, you may have noticed a foul smell coming from some of your younger colleagues. No, they aren’t reeking of entitlement (unless they work at EY). They are reeking of body odor. Lockdowns and social distancing have triggered a […]

Friday Footnotes: The Future of Remote Work; Talent Crunch Gets Crunchier; SEC Sucks | 5.28.21

KPMG launches relaxed work policies to combat remote work fatigue [Accounting Today] “Since the start of the pandemic, the firm has employed a continuous listening approach, using regular experience surveys and other feedback channels to stay connected with people and better understand the challenges they’re facing and support they need,” Darren Burton, vice chair of […]

The Fortune 100 Best Companies to Work For: RSM US #62 (2021)

When all was said and done, RSM US and its employees had a pretty decent 2020. The firm’s revenue increased nearly 11% over the previous year, RSM didn’t cut pay during the pandemic and doled out both raises and bonuses to employees, and RSM overtook KPMG as the firm most likely to give its capital […]

Oh Look, a Pissed-Off Stockholder Is Suing Mattel Directors and PwC

While a potential class complaint filed against Mattel and its auditor PwC by a group of Mattel investors currently sits in the U.S. District Court for the Central District of California, a separate lawsuit against directors of the global toy giant’s board and PwC was filed on May 21 in Delaware Chancery Court by a […]

EY Poaches Someone From Deloitte and Issues a Press Release, Part II

In today’s edition of “Big 4-on-Big 4 Poaching From Around the World,” we head to London where Jill Trafford finally got an invitation to participate in games Big 4 partners play. She announced her promotion at EY on LinkedIn earlier this month: With EY dangling a promotion to partner, Trafford decided to dip from her […]

Promotion Watch ’21: BKD Adds 18 New Partners

TPTB at BKD have released the names of the firm’s newest class of partners who will officially be welcomed to the club on June 1. The 15 men and three women who will receive gift bags from Ben and Kate next week are: Jim Ashley, Springfield Brian Beiser, Denver Rick Carrier Jr., Evansville Meagan Clark, […]

Hywel Talks Hybrid At EY U.K.

“We have championed flexible working for many years prior to COVID-19 and we will continue to do so. This has been built on a culture of trust with our people. We also believe there will always be a need for EY to have office space across the U.K., but how we use our offices in […]

Old Guy Wearing KPMG Hat Wins At Golf

Congrats to KP(hil)MG’s most beloved and valuable employee for winning his second PGA Championship on Sunday—his sixth major overall—and for becoming the oldest major champion ever at age 50. Phil Mickelson and his blue KPMG hat shot a one-over-par 73 during the final round of the PGA Championship on Sunday, finishing with a two-shot lead […]

Shape Your Accounting Career Your Way with the Intuit Expert Network

Looking to grow your professional experience, engaging with new clients in new situations? Ready for the next challenge as your accounting career revs up or winds down, or seeking a full-time job as a bookkeeping professional? The Intuit Expert Network offers the perfect opportunity to shape your career—transforming your journey to fit your wants, goals, […]

EY Had An Office In Gaza Media Tower Leveled By Israeli Air Strike

Thanks to a tipster who sent us a link to a Facebook post from Saed Abdallah, a partner at EY Palestinian Authority: The missile strike on the 12-story al-Jalaa building in Gaza City was carried out by Israel because it claimed the building was also used by the Islamist militant group Hamas. The building, which […]

Number of the Day: $26.7 Billion

Deloitte has the most valuable brand among commercial services firms worldwide, as the Green Dot is valued at $26.7 billion, according to the 2021 Commercial Services 100 report from Brand Finance. However, the value of the Deloitte brand slipped nearly 18% in the past year—from $32.5 billion in 2020 to $26.7 billion—due to the Rona, […]

RIP James Alan White, Managing Director at KPMG In Dallas

Just saw on my Twitter feed the sad news that the remains of James Alan White, the KPMG managing director who went missing last October, were found Thursday afternoon and identified by the Dallas County medical examiner’s office on Friday, according to the Dallas Morning News. The newspaper reported: Dallas police said that a survey […]

Audit ‘Reform’ in the UK: Hello … Is Anybody There?

It’s one thing to discuss the breadth of the UK government’s March 18 consultation paper, “Restoring Trust in Audit and Corporate Governance,” with its 98 questions spread over 232 pages, as I did recently in a conference mixing academics and practitioners. It’s quite another, and thoroughly dispiriting, to observe the public silence on the likelihood […]

KPMG Can’t Get Out of Class-Action Suit Filed By Miller Energy Investors

A Tennessee federal judge on May 7 greenlighted class certification in a multiyear lawsuit against KPMG by investors of the now-defunct oil and gas company Miller Energy Resources Inc., despite KPMG’s best efforts to get the lawsuit thrown out. According to Law360, U.S. Magistrate Judge Debra C. Poplin had recommended that the Miller Energy investors […]

$58,508: The Average Starting Salary for New Accounting Grads

Accounting students who are graduating in 2021 are the beneficiaries of an average starting salary that has increased by nearly 11% over last year, according to the most recent salary survey from the National Association of Colleges and Employers (NACE). The average starting salary for accounting undergrads this year is projected to be $58,508, up […]

Number of the Day: $5.7 Million

No, that isn’t the latest fine given to a Big 4 firm by the SEC for shitty auditing. That is the median cash compensation—after graduation and working for 35 years—for someone who got an MBA from one of the top 50 business schools in the U.S., according to an analysis for the website Poets&Quants by […]

Which Firm Had the Most IPO Audit Clients In Q1 2021?

The SPAC bubble didn’t burst during the first quarter of 2021. Of the 407(!) initial public offerings in U.S. markets between Jan. 1 and March 31, 298 (73.2%) involved blank check or special-purpose acquisition companies, according to a new analysis from Audit Analytics. In total, the 407 IPOs raised nearly $134.7 billion—an increase of more […]

In Response to Discrimination Claims From Ex-Senior Officer, PCAOB Went on a ‘Deny’ Spree

The PCAOB emphatically denied the allegations made by its former chief administration officer Sue Lee who claimed in a wrongful termination lawsuit that she was the victim of a “xenophobic and racist campaign” against her by Chairman William Duhnke because of her Asian ethnicity. How emphatically did the PCAOB deny Lee’s discrimination accusations? The U.S.’s […]

Even EYers Think PwC Is a Better Firm Than EY

Leave it to EY to turn a call with staff into a high school pep rally. And leave it to one EY employee to hilariously try to torpedo it. This was posted on Fishbowl earlier today: The funny thing is another EYer who was on that call told us he/she was considering doing something similar […]

Number of the Day: 59%

While not public accounting specific, that is the percentage of top performers who had their promotions postponed within the past year due to the Rona pandemic, according to the results of a recent Robert Half survey. So as a result of not being able to drink that sweet promotion juice, 38% of professionals surveyed said […]

KPMG Proves Its Commitment to Women By Firing the Guys Who Expensed Strippers and Gave Interns Alcohol Poisoning

Determined to steal the crown from public accounting’s reigning fuck-ups (that’s EY for those of you out of the loop), a group of former KPMGers are doing their best to bring shame upon their former firm now that news of their “boys’ night out” shenanigans has reached the unwashed masses. And they have the Australian Financial […]

The Fortune 100 Best Companies to Work For: EY #41 (2021)

Bringing up the rear among the Big 4 firms in the 2021 F100BCTWF is EY at No. 41. The good news is, even after all the cringey decisions EY leadership made over the past year—temporarily shelving performance-based bonuses, getting rid of senior manager promotion bonuses, giving raises only to EYers who went up in rank, […]

KPMG Rocks signs held by a woman in a KPMG shirt

The Fortune 100 Best Companies to Work For: KPMG #39 (2021)

Following one spot behind PwC at No. 39 in the 2021 F100BCTWF is KPMG. One of the biggest things that happened at the Radio Station during the pandemic was (no, not Phil turning 50) a change in leadership. Lynne Doughtie led the troops for the first few months of the Rona outbreak, trying to convince […]

Pittsburgh Man Who Was Strangled to Death By a Friend In Hawaii Worked For Deloitte Consulting (UPDATE)

It’s been several weeks since we wrote about the Hawaiian vacation amongst three friends that turned deadly, so let’s catch you up on the latest. First, Benjamin Fleming of Pittsburgh, who was charged with manslaughter in the death of his friend and Carnegie Mellon University classmate Abhishek Gupta, who worked for Deloitte Consulting, was allowed […]

The Fortune 100 Best Companies to Work For: PwC #38 (2021)

Next up in the 2021 F100BCTWF are the darlings of the Big 4, PwC. Somebody on one of the chatter sites said recently that the reason why PwC attracts so many new recruits, capital market servants from other Big 4 firms, and has such a good reputation is because it has a charismatic and very […]

RIP Greg Pellegrino, Deloitte Executive Branch Affairs Leader

Very sad news out of Virginia as we learned this morning that longtime Deloitte Government & Public Sector Principal Greg Pellegrino died after a single-car accident in Loudoun County, VA, on April 25. He was 55 years old. According to Patch.com, the accident occurred at the intersection of Lime Kiln Road and Snickersville Turnpike. The […]

Your Naughty Tax Preparer of the Day

Yes, busy season sucks. But getting sentenced to nearly three years in federal prison during busy season sucks way more. Still, I don’t think any of our friends on Tax Twitter are going to feel sorry for Nikia Tull of Norfolk, VA, who was recently sentenced to 33 months in the pokey for wire fraud […]

Friday Footnotes: Is KPMG a Bunch of Bullies?; Deloitte’s Karen Problem; Firm-Mandated Jabs | 4.23.21

Deloitte reveals number of staff complaints [Financial Review] Consultancy giant Deloitte has become the first major professional services firm in the country to voluntarily disclose the number of workplace investigations conducted each year – roughly 15 a year over the past three years – with the pressure now on rival firms to disclose similar data. […]

Lawsuit: PCAOB Chairman (Allegedly) Calling Coronavirus the ‘Kung Flu’ Didn’t Sit Too Well with Senior Staffer Born In China

This seems like ages ago but back in October 2019, the Wall Street Journal revealed what was written in a one-page whistleblower complaint—written by a group of current and former PCAOB employees—that alleged some serious problems going on at the PCAOB under chairman William Duhnke, a Republican who was appointed to that role in December […]

Audit ‘Reform’ In the UK: The Government Finally Speaks, and Says Little

On March 18, the UK government weighed in with its long-promised consultation paper (the “Consultation), “Restoring Trust in Audit and Corporate Governance.” Ninety-eight questions, spread over 232 pages, contain much that is cautious and little that is innovative. The problem is, what is cautious would not innovate, and what would innovate is not cautious. For another day, […]

You Can Now Take the CFP Exam From Home (Pants NOT Optional)

Back in September, we informed everyone who isn’t a regular reader of NASBA state board reports (so, everyone then) that The Powers That Be were seriously considering remote testing for the CPA exam, mostly because what we all thought would be a couple weeks at home in March 2020 turned into … well … you […]

Vault Accounting 50: PwC Remains No. 1; Top 5 SALY (2022)

How much do Big 4 people really care about Vault’s annual Accounting 50? PwC, Deloitte, and KPMG and their employees probably care way more about the ranking than EY and its employees because those firms routinely comprise the top three positions. EY, on the other hand, hasn’t participated in Vault’s annual survey of accounting professionals […]

German Investigator Can Confidently Prove EY Was Unbelievably Bad At Auditing Wirecard

Bloomberg reported on Saturday: A special parliamentary investigator lists far-reaching shortcomings in Ernst & Young’s audits of Wirecard AG before the German financial technology company collapsed last year, a person familiar with the report said. The investigator lists about 11 incidences where EY failed to take measures to uncover the multibillion fraud, said the person, who spoke […]

How Intuit Can Help Your Career Thrive In the Remote Work Era

With the widespread adoption of remote and hybrid work structures and an increased reliance on technology, the past year has seen big changes to the accounting and finance professions. As many accountants and finance professionals face the reality that they won’t be returning to the office anytime soon (if at all), it’s clear that the […]

Friday Footnotes: CFO Pay on the Rise; EY Seeks Neurodiversity; COVID-19 Skidoo | 4.16.21

Ernst & Young opens program in Boston to attract autistic workers and other “neuro-diverse” recruits [Boston Globe] These programs at EY are designed to hire talented candidates whose cognitive differences — dyslexia, autism, or ADHD, for example — might hamper them in traditional one-on-one job interviews that rely on good social skills. EY also provides […]

Important Audit Professional Takeaways from Botta v. PwC Closing Arguments

Closing arguments were held on April 13 in the bench trial of audit whistleblower Mauro Botta vs. PricewaterhouseCoopers. Botta, a former PwC senior manager, claims that he was wrongfully terminated by PwC in retaliation for making a whistleblower report to the SEC. Botta’s whistleblower report alleges that PwC had compromised its independence by acquiescing to […]

Where Does Janet Yellen Want to Be Taxed?

Presuming that Janet Yellen, our current secretary of the Treasury, lives in California, her marginal tax rate might be as high as 13.3%. That’s a little scary for those of us living here in Maryland. Good thing she knows how to handle finances. For that kind of tax rate she might easily be persuaded to […]